eMetals Limited Updates Shareholders On Exploration – April 12, 2021

eMetals Limited (ASX:EMT) (eMetals or Company) is pleased to update shareholders on exploration activities which have commenced across the Company’s projects.

HIGHLIGHTS

• Drilling at Beryl Well Li-Ta-Nb-Be prospect and Nardoo Well tungsten skarns completed for an advance of 30 holes for 1,757m.
• Multiple pegmatites intersected with up to 63m of pegmatite from surface (NWRC017, 0-63m).
• Significant pegmatites mapped and sampled at Morrissey South up to 100m thick and 500m long.
• Moving Loop EM is has commenced on the Mughal Ni-Cu- PGE Prospect, Poona Project, testing for bedrock conductors associated with nickel anomalies.

eMetals Director Mathew Walker commented: “We are delighted drilling is underway on the Company’s highly prospective Nardoo Rare Metals Project.

Drilling to date has confirmed the thickness and strike continuity of pegmatites at Beryl Well which have historical tantalite, beryl and lithium occurrences. Mapping at Morrissey South shows further potential, with mapping of huge pegmatites, and we await the results of initial sampling to determine ongoing exploration objectives.

At the Poona Project, the Company has developed the Mughal Ni- Cu-PGE project from its initial soil sampling results to an initial moving loop EM survey within 6 months, with a field crew on site. We expect to receive finalised results in the coming months.”

This announcement has been authorised by the Board of eMetals Limited.

For, and on behalf of, the Board of the Company
Mathew Walker
Director EMETALS Limited

Shareholders and other interested parties can speak to Mr Sonu Cheema if they have any queries in relation to this announcement: +618 6489 1600.

Forward looking statements
This announcement contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and our management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this prospectus will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. We have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law. These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.

Competent Persons Statement
The information in this announcement that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Roland Gotthard. Mr Gotthard is a consultant geologist for eMetals and a member of the Australian Institute of Mining and Metallurgy. Mr Gotthard has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”). Mr Gotthard consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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